2. A project provides annual net benefits of $100 forever. The discount rate is 5%. What is the present value of the project? 3. Explain why $1 paid or received in the future is worth less than $1 paid or received today. 4. Compare and contrast private and social discounting. Discuss and evaluate the "social opportunity cost of private capital" and the "social rate of time preference" (consumption rate of interest) approaches to social discounting. 5. Compare and contrast intra- and intergenerational discounting and discuss the Ramsey rule for choosing an intergenerational discount rate